Lionel Baraban
- CEO and Co-Founder at Famoco
GetLatka interview
How Famoco Reached 400 Business Customers and 250,000 Devices Shipped, Charging $1 or $2 per Device a Month for Software (2018 Interview with CEO Lionel Baraban)
Lionel Baraban (CEO and Co-Founder of Famoco) spoke to Nathan Latka on December 9, 2018.
Famoco figures from the interview
- Business Customers (2018)
- 400
- Devices Shipped, Total (2018)
- 250,000
- Team Size (2018)
- 120
- Total Funding Raised
- 21M (currency not stated)
“Famoco is what we do basically, we validate digital transactions. So when I say we validate digital transactions, what we all have in mind when I talk about transaction are financial transaction payments. Now in reality, transaction is not only about payment, but transportation is a transaction. Crossing a border is a transaction with two government, one letting you out, one letting you in. Access control is a transaction. So the world of transaction is much broader than only payment.”
“Our business model is very simple. I sell you the piece of hardware that can run the business I'm selling you to, and and I will, take $1 or $2 per month per device for the mobile device management platform.”
“We we grow about between 50 to 60% per year.”
Bio
Lionel Baraban is a serial entrepreneur and started the adventure in France where he launched several successful start ups. He then went on to manage a technology incubator in Israel from 1995 to 1998. In 1998, Lionel founded Entopia, a company specialized in semantic analysis and raised $40 Million. He headed the company from the Silicon Valley until 2006. After France, Israel and the USA, Lionel moved to China where he developed Xanadu, a key player of online travel services, with Nicolas Berbigier. In 2010 they co-founded FAMOCO of which he is the CEO.